Retail news

• M&S CEO: Asbestos riddled Marble Arch store belongs to bygone era

  17-01-2023 20:57 via retailgazette.co.uk
  
  // M&S boss Stuart Machin claims the redevelopment of its Marble Arch store is the right solution
  // The retailer’s plans to demolish rather than retrofit sparked a public inquiry late last yearM&S CEO Stuart Machin has claimed that its Marble Arch store is “riddled with asbestos” and insists its controversial plans to redevelop the site are “the right – and only – workable solution” to save it.
  Machin said: “The sad reality is Marble Arch
  
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• Ocado Retail: basket case makes investors warehouse wary

  17-01-2023 18:11
  Newly-opened storage space has created overcapacity, while extra costs are squeezing margins
  
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• Paperchase faces uncertain future as owners consider sale

  17-01-2023 17:11
  Struggling stationary retailer may go in administration less than six months after previous buyoutStruggling stationery retailer Paperchase is facing an uncertain future, with the owners considering a sale or potential administration less than six months after a previous buyout.The retailer, which faces rising costs and lacklustre sales and requires additional funding, has beenput up for auction under the advisory firm PricewaterhouseCoopers (PwC), as first reported by Sky News. Continue reading
  
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• Asda shrinks gender pay gap as women take on more senior roles

  17-01-2023 16:45 via retailgazette.co.uk
  // Asda shrinks gender pay gap as female staff take on more senior roles at grocer
  // The grocer said there is an increase in women taking senior roles across retail and logisticsAsda has shrunk its gender pay gap as female workers are increasingly taking on senior roles at the grocer.
  The company’s gender pay figures has revealed a year-on-year reduction in both its mean and median pay gaps between men and women.
  The grocer said the median pay difference between all its male and fema
  
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• Shoptalk Europe announces 2023 agenda 

  17-01-2023 16:00 via retailgazette.co.uk
  Shoptalk knows that innovation isn’t a luxury – it’s business critical. As the European retail environment is disrupted by dynamic consumer behaviours, an abundance of new digital technologies, and a challenging economic backdrop, this is the exact moment when winning businesses will look beyond the short-term and accelerate, not slow down, their digital transformation. 
  That’s why Shoptalk Europe will be more important than ever in 2023. 
  Like the establis
  
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• Sainsbury’s apologises for ‘inappropriate’ ad after backlash over women’s safety

  17-01-2023 15:05 via retailgazette.co.uk
  // Sainsbury’s ad received significant online backlash for appearing to ignore women’s safety
  // The advert described a £24 TU dress as being for “strolls after dark”Sainsbury’s has apologised for a clothing advert it removed yesterday (16 January) after receiving huge backlash online for appearing to ignore women’s safety.
  The supermarket’s poster advertisement promoted a £24 wrap dress and featured the copy: “For walks in the par
  
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• Paperchase lines up administrators as pre-pack looks likely

  17-01-2023 14:30 via retailgazette.co.uk
  // Paperchase puts Begbies Traynor on standby as it scrambles to secure a rescue deal, Sky News reports
  // The stationary retailer was put up for sale last week just four months after it was snapped up by retail entrepreneur Steve CurtisPaperchase has put administrators on standby as it rushes to secure a rescue deal.
  The stationary retailer has brought in Begbies Traynor to manage any potential insolvency, Sky News reported.
  City sources said the move was “sensible contingency planni
  
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• L’Oreal invests in digital temporary tattoo company

  17-01-2023 14:19 via retailgazette.co.uk
  //  L’Oréal has made a minority investment in micro-printing startup Prinker Korea through its corporate venture fund Bold Business Opportunities for L’Oreal Development.
  //  Founded in 2015, Prinker Korea is the inventor and manufacturer of the world’s first digital temporary tattoo device.Read the full story at Charged Retail
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• THG shares down 15% after online retailer issues profit warning

  17-01-2023 14:17
  Company blames falling sales, contract delays and delivery disruption in latest of a number of missed financial targetsThe struggling online shopping group THG has said its profits will disappoint for the third time in a year, blaming delivery disruption, contract delays and falling sales at one of its key divisions.The company, formerly known as The Hut Group, said the profit downgrade was because of lengthier “onboarding” of new contracts at Ingenuity, its unit that helps retailers
  
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• New Look pushes further into resale with new Re-Fashion concessions

  17-01-2023 13:52 via retailgazette.co.uk
  // New Look launches six new Re-Fashion in-store concessions across some of its UK stores
  // Customers will be able to shop vintage and pre-loved items at Re-Fashion concessionsNew Look has introduced six new Re-Fashion in-store concessions across some of its UK stores as it pushes into resale fashion.
  The fashion retailer said customers will be able to shop vintage and pre-loved items at Re-Fashion concessions within New Look stores in Coventry, Nottingham, Peterborough, Leicester, Loughborough
  
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• Space NK unveils biggest store at Westfield London

  17-01-2023 13:42 via retailgazette.co.uk
  // Space NK has upsized its Westfield London store, which is now four times the size of the original
  // The 25,000 sq ft space includes a first of its kind fragrance discovery area, refill stations and treatment roomsSpace NK has unveiled a newly upsized store at Westfield London making it the biggest shop in the retailer’s portfolio.
  The 25,000 sq ft store, which opened on Monday, is four times the size of its original branch in White City.
  The new store includes a first-of-its-kind
  
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• Naked Wines lifts profit guidance after ‘solid’ trading’ over Christmas

  17-01-2023 13:06 via retailgazette.co.uk
  // Naked Wines ups profit guidance after a strong trading performance
  // Revenue was flat during the period and sales in the UKNaked Wines has lifted its profit guidance after a “solid trading” performance for the quarter ended 26 December 2022.
  The online wine retailer now expects FY adjusted earnings before interest and tax of £13 million to £17 million, up from previous guidance between £9 million and £13 million.
  Revenues in the third quarter were fla
  
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• Morrisons to cut budgets and working hours for some instore staff

  17-01-2023 12:54 via retailgazette.co.uk
  // READ MORE ON GROCERY GAZETTEMorrisons is cutting budgets and reducing working hours for some of its instore staff, as future budgets for some roles will be cut significantly.
  The supermarket has issued a statement on its Community Champion roles following reports which revealed its plans to cut budgets and reduce working hours outside of stores.
  The statement, which said Morrisons would be making “some adjustments” to the role, came after sources claimed that affected staff will b
  
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• The Edit LDN secures £3.9m funding to expand internationally

  17-01-2023 12:24 via retailgazette.co.uk
  // The Edit LDN secures £3.9m seed round to invest in retail growth
  // The online marketplace reported a revenue growth of more than 500% every year since 2020The Edit LDN has secured a £3.9 million seed round led by Regah Ventures to invest in its growth in the US as well as the Middle East and North Africa.
  The online marketplace, which sells streetwear and trainers, has seen its revenue grow by more than 500% every year since 2020.
  Brands on sale include Nike Air Jordan, Louis Vui
  
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• Sephora to open London flagship in Westfield this Spring

  17-01-2023 11:33 via retailgazette.co.uk
  // Sephora will open its first UK store in Westfield White City this March
  // The store will also offer a product range for beauty junkies of more than over 140 brandsAfter launching its UK website last October Sephora is set to open the doors to its London flagship store in March in Westfield London, White City.
  The beauty retailer will occupy a 6000+ sq. ft store housing a range of products from makeup to fragrance, skincare, haircare, and wellness and over 140 big-name brands including Drunk
  
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• Hammerson looks to transform John Lewis Birmingham into ‘wellbeing-designed’ office

  17-01-2023 11:15 via retailgazette.co.uk
  // Hammerson has submitted plans to transform the former John Lewis department store at Birmingham’s Grand Central
  // The landlord’s plan proposes a 200,000 sq ft office building, as well as a restaurant and a gymThe former John Lewis store in Birmingham’s Grand Central shopping centre could be turned into a “wellbeing-designed” office according to a newly submitted planning application.
  Hammerson, which owns the Birmingham shopping centre, has brought in
  
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• Ocado has record Christmas sales but people are buying fewer items

  17-01-2023 11:09
  Online grocer’s shares dive 5% on Tuesday morning as it says basket volumes fell down 8.3% on last year Ocado Retail enjoyed record sales over Christmas but customers are putting fewer items in their baskets in response to higher prices and the cost of living crisis.The online grocer, a joint venture with Marks & Spencer, said sales were up 15% in the five days before Christmas. Party food and English sparkling wine sales jumped 35% and 70%.Continue reading...
  
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• Burberry bolsters leadership team with new senior executives

  17-01-2023 09:30 via retailgazette.co.uk
  // ​Burberry has appointed Giorgio Belloli and Delphine Sonder to the newly-created roles of chief digital, customer and innovation officer and chief merchandising officer, respectively
  // Both will report to Burberry CEO Jonathan Akeroyd and join the executive committeeBurberry has appointed Giorgio Belloli and Delphine Sonder to the newly-created roles of chief digital, customer and innovation officer and chief merchandising officer, with immediate effect.
  Based at the luxury fashion ret
  
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• THG lowers profit guidance and starts strategic review

  17-01-2023 09:10 via retailgazette.co.uk
  // THG cuts profit forecast to £70m-80m down from £100-£130m amid lower sales growth
  // The group said it would review lossmaking categories and territories within its OnDemand divisionTHG, the online group that owns a number of health and beauty brands, has warned that profits for last year will be lower than expected, as sales growth slowed.
  The Manchester-based business posted record annual sales of £2.25bn but said it now expected adjusted earnings before tax of &poun
  
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• Ocado shares drop after Christmas trading fails to match rivals

  17-01-2023 09:06
  UK retailer looks ahead to ‘strong recovery’ in 2024
  
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• Ocado Retail expects ‘mid-single digits’ sales growth for 2023

  17-01-2023 09:06
  Group says better second half will underpin recovery next year
  
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• Ocado earnings forecast falls short of expectations as customers cut back

  17-01-2023 09:06
  Shares in UK retailer drop after Christmas trading fails to match rivals
  
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• Quiz’s festive sales boosted by return of Christmas parties

  17-01-2023 08:54 via retailgazette.co.uk
  // Quiz sees total group sales last year increase 11% year on year to £9.8m
  // The retailer said it is confident of delivering profits for the year to end of March at least in line with expectationsQuiz grew its total sales by 11% to £9.8 million in the month of December after it benefited from strong demand from customers for occasion wear, in the first Christmas for three years not impacted by lockdown.
  The uplift at the fashion retailer helped offset slightly weaker-than-expected
  
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• Ocado posts strong sales but basket sizes fall amid cost-of-living crisis

  17-01-2023 08:44 via retailgazette.co.uk
  // Ocado Retail posts retail revenue of £549.4m, up 0.3%, in the 13 weeks to November 27
  // The business held its guidance for the 2022 financial year but said that it expects earnings to fall as well as customers’ basket sizes in the first half of fiscal 2023Ocado retail has backed its 2022 guidance after reporting robust fourth-quarter sales and said it has started the new fiscal year with a record Christmas performance.
  The online grocer and retail technology specialist said that
  
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• Is this the high street’s last stand?

  17-01-2023 05:00
  Bricks and mortar retail has shown signs of a revival but hailing the triumph of square footage over pixels would be wishful thinking
  
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• Meme stock investor Ryan Cohen launches campaign at Alibaba

  17-01-2023 02:05
  The 37-year-old calls on Chinese ecommerce giant to speed up share buybacks after taking minority stake
  
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• Third-party logistics specialist Rhenus helps retailers thrive in a time of increased returns

  17-01-2023 01:00 via theretailbulletin.com
  As the rate at which consumers are returning items continues to increase, Rhenus Warehousing Solutions UK is providing retail brands with expertise and highly efficient, sustainable... View Article
  
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• THG cuts profit forecast and launches strategic review

  17-01-2023 01:00 via theretailbulletin.com
  Online shopping group THG has warned that profits for last year will be lower than expected as sales growth slowed. The company, formerly known as The... View Article
  
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• The Yards, Covent Garden to welcome not-for-profit café Fair Shot

  17-01-2023 01:00 via theretailbulletin.com
  Social enterprise Fair Shot Café is to open a not-for-profit café in at The Yards, Covent Garden next month. The café will occupy a 2,224 square foot... View Article
  
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• The Edit LDN secures $4.8 million in seed round

  17-01-2023 01:00 via theretailbulletin.com
  The Edit LDN has secured $4.8 million in seed funding to help it expand further into the US, Middle East and North Africa. The seed round... View Article
  
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• Quiz’s festive sales boosted by strong demand for occasion wear

  17-01-2023 01:00 via theretailbulletin.com
  Quiz grew its total sales by 11% to £9.8 million in the month of December after it benefited from strong demand from customers for occasion wear. ... View Article
  
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• Paperchase lines up administrators amid search for rescue buyer

  17-01-2023 01:00 via theretailbulletin.com
  Stationery outfit Paperchase has put administrators on standby as it scrambles to find new financial backers. The beleaguered High street stationer has told corporate restructuring business... View Article
  
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• Ocado looks ahead to strong trading

  17-01-2023 01:00 via theretailbulletin.com
  Ocado said it expects trading to improve later in the year after its fourth quarter retail revenue rose by 0.3% to £549.4 million. In the 13... View Article
  
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• Neiman Marcus appoints chief brand officer and chief retail officer

  17-01-2023 01:00 via theretailbulletin.com
  Neiman Marcus Group has appointed Nabil Aliffi as chief brand officer and promoted Stefanie Tsen Ward to the position of chief retail officer. Both roles have... View Article
  
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• Naked Wines upgrades underlying profit forecast

  17-01-2023 01:00 via theretailbulletin.com
  Naked Wines has said solid festive trading has led it to increase its full year adjusted EBIT outlook despite medium term conditions remaining challenging. The company... View Article
  
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• Jollyes celebrates bumper Christmas sales

  17-01-2023 01:00 via theretailbulletin.com
  Pet retailer Jollyes has reported record Christmas sales after trade was boosted by new store openings, buoyant online sales and higher demand at existing stores. Sales... View Article
  
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• Hammerson submits plans to transform Grand Central into workplace and amenity quarter

  17-01-2023 01:00 via theretailbulletin.com
  Hammerson is seeking to transform a former John Lewis department store at Birmingham’s Grand Central into 200,000 square feet of wellbeing-designed offices. The company has submitted... View Article
  
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• Burberry appoints new leaders to executive team

  17-01-2023 01:00 via theretailbulletin.com
  Luxury brand Burberry has created two new leadership roles within its executive team. Giorgio Belloli has been appointed as chief digital, customer and innovation officer while... View Article
  
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• Are you looking to better engage with your retail employees in 2023?

  17-01-2023 01:00 via theretailbulletin.com
  If you’re going to create and maintain employee engagement, you need to show that you value your employees. Last week we shared our views on the... View Article
  
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